The US currency received a noticeable support from unemployment and employment data (Getty)
Highest level in 20 years US dollar Today, Thursday, benefiting from the strength of US economic data, while the Japanese yen fell to its lowest price in 24 years once morest the dollar, which also recorded a rise once morest the euro andSterling pound In an anxious market.
The dollar strengthened following a government report showed that the number of Americans who filed for unemployment benefits fell further in the past week in line with the strong demand for labor. The report also showed that layoffs decreased in August, despite a sharp increase for interest rates Which increases the risk of stagnation.
The dollar index, which measures the performance of US currency Against a basket of 6 currencies, 0.873% to 109.81 by 14:45 GMT, the highest level since June 2002, according to “Archyde.com” data.
The euro fell 1.24% and fell below the level of parity with the dollar to 0.9931 dollars, while the sterling pound reached a new low in two and a half years, recording 1.1522 dollars, and the percentage of decline in the latest trading was regarding 0.86%. The dollar, which is considered a safe haven, was also supported by aversion to risk assets.
The Japanese yen fell to as much as 140.225 yen once morest the dollar, its lowest level since 1998. The dollar rose in the latest trading 0.71% to 139.94 yen.
The risk-sensitive Australian and New Zealand dollars also saw a sell-off in haven assets and reached their lowest levels since July. The Australian dollar fell 0.77% to 0.67905 and the New Zealand dollar 0.78% to $0.6072.
The cryptocurrency “Bitcoin”, affected by the appetite for risk, fell below 20 thousand dollars.
However, the decline in the yen may prompt the central bank to act, as “Previously, when the Bank of Japan intervened to buy the yen, the price was close to these levels,” said David Forster, in charge of the exchange office at Credit Agricole in Hong Kong.
“Inflation in Japan is accelerating and expanding to include sectors other than food and energy,” Forster said, and the price hikes are due to the war in Ukraine, over which central banks have no influence. He believes that this general rate increase should “make the BOJ change its policy a little bit”.
The Bank of Japan’s anticipation contrasts with the steady line of the US Federal Reserve, which has repeatedly indicated that its interest rate hike will continue until inflation eases.
A barrel of oil is losing more than 3%.
In the oil market, the barrel fell more than 3% today, Thursday, as new closures in China aimed at combating Corona increased fears that high inflation and interest rates are weakening demand for fuel.
The price of a barrel of Brent crude fell $3.28 to $92.36, down 3.4 percent, while US West Texas Intermediate crude futures fell $2.94, or 3.3 percent, to $86.61.
